Fasset has received approval from the Central Bank of the UAE to distribute DDSC, a stablecoin tied to the dirham. The development gives the digital finance company an approved distribution role for the token and adds a locally denominated asset to a market dominated by dollar-linked stablecoins.

DDSC is issued by AEDC Stablecoin Network & Distribution LLC and was jointly developed by International Holding Company, First Abu Dhabi Bank, and Sirius International Holding. It runs on ADI Chain and is intended for digital payments, transfers, and settlement involving the UAE's currency.

Eligible users will be able to hold, transfer, and exchange DDSC through Fasset's services. The company reports more than three million user accounts across 125 countries and regions, although that overall footprint does not establish universal eligibility for the new asset. Access depends on the applicable service arrangements.

Fasset and the ADI Foundation also plan further infrastructure, including payment cards, merchant acceptance, fiat conversion, and swaps with USDC and USDT. Those functions are future development areas. The immediate milestone is distribution approval, which creates a basis for expanding practical uses of dirham-denominated digital money.